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Australia Raises Rates As Growth Continues

By

James Glynn

Updated April 6, 2010 12:00 p.m. ET

SYDNEY—The Reserve Bank of Australia Tuesday raised its key policy rate for a fifth time since October 2009, highlighting again its concerns about rising house prices in an economy now well entrenched in recovery.

The central bank also dropped from its commentary any reference to a "gradual" and "flexible" pace of rates increases, suggesting it may have more policy tightening to deliver in the near-term to reach...

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